The Analytical Overview of the Main Currency Pairs on 2018.01.03

The EUR/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.20092

Open: 1.20581

% chg. over the last day: -0.18

Day's range: 1.20351 – 1.20397

52 wk range: 1.0341 – 1.2069

Yesterday the EUR/USD currency pair rose by the end of American trading session. At the moment, the EUR/USD quotes are in a sideways trend. Investors expect additional drivers. Today, important statistics will be published, which may affect the trading. We recommend opening positions from key levels.

The news feed on 2018.01.03:

- Statistics on the unemployment rate in Germany at 10:55 (GMT+2:00);
- The index of business activity in the manufacturing sector of the US from ISM at 17:00 (GMT+2:00);
- Publication of the FOMC protocols at 21:00 (GMT+2:00).

The signals of the indicators are ambiguous. The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy EUR/USD.

Stochastic Oscillator is in the overbought zone,the %K line is below the %D line. There are no signals at the moment.

Trading recommendations

Support levels: 1.19900, 1.19400, 1.18600

Resistance levels: 1.20600

If the statistics from the US is positive, we recommend looking for entry points to the market to open short positions. The target movement level is 1.19900-1.19700.

An alternative may be the growth of the EUR/USD quotes to the level of 1.20700-1.20900.

The GBP/USD currency pair

Technical indicators of the currency pair:

Prev Open: 1.34945

Open: 1.35871

% chg. over the last day: +0.04

Day's range: 1.35888 – 1.36019

52 wk range: 1.1450 – 1.3618

Yesterday, the pound strengthened against the US dollar, as a result the GBP/USD quotes rose. At the moment, the GBP/USD currency pair is consolidating. The key range is 1.35600-1.36200. Positions must be opened above/below these marks.

The news feed on 2018.01.03:

- The index of business activity in the construction sector of the UK at 11:30 (GMT+2:00).

The signals of the indicators are ambiguous. The price has fixed above 50 MA and 200 MA, which indicates the power of buyers.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy GBP/USD.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which signals sales of GBP/USD.

Trading recommendations

Support levels: 1.35600, 1.35000, 1.34400, 1.33700

Resistance levels: 1.36200

If the GBP/USD currency pair fixes above the resistance level of 1.36200, we recommend considering purchases. The movement is tending potentially to 1.36600-1.36800.

Alternative option. If the quotes begin to fall and fix below the "mirror" support of 1.35600, it is necessary to look for entry points to the market to open short positions. The target movement level is 1.35200-1.35000.

The USD/CAD currency pair

Technical indicators of the currency pair:

Prev Open: 1.25181

Open: 1.25117

% chg. over the last day: +0.03

Day's range: 1.25154 – 1.25282

52 wk range: 1.2059 – 1.3795

At the moment, the technical pattern on the USD/CAD currency pair is ambiguous. Quotes are being traded in a flat. Investors expect additional drivers. Local support and resistance levels are 1.24950 and 1.25550, respectively. It is necessary to open positions from key levels.

The news feed on Canada's economy is calm.

Indicators do not send accurate signals. The price has fixed below 50 MA and 200 MA.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell USD/CAD.

Stochastic Oscillator is in the neutral zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations

Support levels: 1.24950

Resistance levels: 1.25550, 1.26350, 1.27250

If the statistics from the US turns out to be weak, drop in the USD/CAD quotes is expected. The movement is tending potentially to 1.24700-1.24500.

Alternative option. If the USD/CAD quotes overcome local resistance of 1.25550, we recommend considering purchases. The target movement level is 1.25900-1.26100.

The USD/JPY currency pair

Technical indicators of the currency pair:

Prev Open: 112.578

Open: 112.258

% chg. over the last day: +0.05

Day's range: 112.297 – 112.379

52 wk range: 99.53 – 118.67

At the moment, the USD/JPY currency pair is in a sideways trend. The technical pattern is ambiguous. The key levels are: support – 112.150; resistance – 112.600. We recommend opening positions if the price fixes above/below these marks. It is necessary to pay attention to the statistics from the United States.

The publication of important statistics on the economy of Japan is not planned.

The signals of the indicators are different. The price has fixed below 50 MA and 200 MA, which signals the power of sellers.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell USD/JPY.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which gives a signal to buy USD/JPY.

Trading recommendations

Support levels: 112.150

Resistance levels: 112.600, 112.900, 113.300

If the price fixes below the support level of 112.150, we recommend considering sales of USD/JPY. The movement is tending potentially to 111.750-111.550.

Alternative option. If the price fixes above the resistance of 112.600, it is necessary to look for entry points to the market to open long positions. The target movement level is 113.000-113.200.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer,
and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.